CoreWeave Stock Gains After $8.5B Financing Facility Close

CoreWeave shares rose 5.2% Tuesday following the company’s announcement of an $8.5 billion delayed draw term loan facility and broader strength in technology stocks.

The facility received ratings of A3 by Moody’s and A (low) by DBRS, marking the first investment-grade rated financing secured by high-performance computing infrastructure and an associated customer contract. The structure enables CoreWeave to borrow up to approximately $7.5 billion initially, with the ability to increase total borrowing capacity to $8.5 billion as underlying assets reach stabilization.

The facility includes a floating rate tranche financed at SOFR + 2.25% and a fixed rate tranche financed at approximately 5.9%. The facility matures in March 2032 and is secured by substantially all assets of CoreWeave Compute Acquisition Co. VIII, LLC.

MUFG and Morgan Stanley served as co-structuring agents and joint bookrunners with Goldman Sachs and JPMorgan serving as additional coordinating lead arrangers for the transaction, which was oversubscribed. The facility was anchored by Blackstone Credit & Insurance and included participation from global financial institutions, asset managers, and insurance investors.

The financing brings CoreWeave’s total equity and debt financing commitments to approximately $28 billion over the past 12 months. The company said the transaction fulfills financing requirements to deliver previously contracted cloud services with a leading AI enterprise.